Neogen Corporation (NEOG)
Neogen (NEOG) Lags Q4 Earnings Estimates
Neogen (NEOG) came out with quarterly earnings of $0.10 per share, missing the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.14 per share a year ago.
Here's Why Staying Invested in Neogen (NEOG) Could be Beneficial
Neogen (NEOG) instills optimism among investors with its strategic progress and a string of product launches.
Neogen (NEOG) Expands in Food Safety With Petrifilm Feeder Launch
Neogen (NEOG) launches Petrifilm Automated Feeder, which allows automatic feeding and enumeration of up to 300 petrifilm plates in 33 minutes. The system improves the efficiency of food safety testing labs.
Neogen's (NEOG) MDS Secures New Contract From USDA FSIS
Neogen's (NEOG) MDS gets recognized by the USDA FSIS as the primary method for the detection of Salmonella and Listeria monocytogenes testing for meat, poultry and egg products.
Meridian Wealth Management LLC Has $350,000 Stock Position in Neogen Co. (NASDAQ:NEOG)
Meridian Wealth Management LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG – Free Report) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,398 shares of the company’s stock after selling 17,398 shares during the quarter. Meridian Wealth Management LLC’s holdings in Neogen were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC). A number of other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Neogen by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,392 shares of the company’s stock worth $1,824,000 after acquiring an additional 4,136 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Neogen by 416.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,033 shares of the company’s stock valued at $56,000 after buying an additional 2,446 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Neogen by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 79,515 shares of the company’s stock valued at $1,474,000 after buying an additional 893 shares in the last quarter. Fifth Third Bancorp increased its holdings in Neogen by 10.7% in the third quarter. Fifth Third Bancorp now owns 9,967 shares of the company’s stock worth $185,000 after buying an additional 966 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Neogen during the third quarter valued at approximately $577,000. Institutional investors and hedge funds own 96.73% of the company’s stock. Insider Activity at Neogen In other news, Director James C. Borel bought 7,500 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $13.06 per share, with a total value of $97,950.00. Following the transaction, the director now directly owns 21,392 shares in the company, valued at $279,379.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Neogen news, Director James C. Borel acquired 7,500 shares of Neogen stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $13.06 per share, with a total value of $97,950.00. Following the completion of the transaction, the director now owns 21,392 shares of the company’s stock, valued at $279,379.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Douglas Edward Jones bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $12.36 per share, for a total transaction of $123,600.00. Following the transaction, the chief operating officer now directly owns 46,131 shares of the company’s stock, valued at approximately $570,179.16. The disclosure for this purchase can be found here. In the last three months, insiders have bought 53,000 shares of company stock worth $662,205. 0.71% of the stock is owned by insiders. Analyst Ratings Changes Separately, Piper Sandler decreased their target price on shares of Neogen from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Read Our Latest Report on NEOG Neogen Price Performance Shares of NASDAQ:NEOG opened at $13.54 on Monday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 1,355.36 and a beta of 1.18. The business has a 50-day moving average of $13.58 and a two-hundred day moving average of $16.07. Neogen Co. has a fifty-two week low of $11.46 and a fifty-two week high of $24.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.82 and a quick ratio of 2.66. Neogen (NASDAQ:NEOG – Get Free Report) last posted its earnings results on Tuesday, April 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Neogen had a return on equity of 3.35% and a net margin of 0.17%. The company had revenue of $228.80 million during the quarter, compared to analyst estimates of $230.01 million. During the same quarter last year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Neogen Co. will post 0.46 EPS for the current fiscal year. About Neogen (Free Report) Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.
